Outside Source
Mantra Finance has secured a Dubai VASP license, expanding its DeFi and RWA tokenization services for institutional investors in the UAE and MENA region.
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Decentralized finance and real-world asset tokenization platform Mantra Finance has received a virtual asset service provider (VASP) license from Dubai’s Virtual Assets Regulatory Authority (VARA), allowing it to expand operations in the United Arab Emirates and the broader Middle East and North Africa (MENA) region.
On Feb. 19, Mantra Finance announced that it secured a VASP license from VARA to operate as a digital asset exchange and provide broker-dealer, management and investment services.
Dubai and the UAE have positioned themselves as leading hubs for cryptocurrency, drawing digital asset companies with structured regulatory frameworks. Mantra CEO John Patrick Mullin said Dubai and VARA have become leaders in digital asset regulations.
He told Cointelegraph that “by establishing the most timely, comprehensive and built from-the-ground-up framework for virtual assets and Web3, Dubai and VARA have become world leaders in crypto regulation.”
“This license was a crucial step for Mantra and a key step in our journey toward global expansion,” he added.
Mullin said the UAE and the MENA region have created a thriving Web3 ecosystem thanks to regulatory clarity. He added that with the license, the company could deliver decentralized finance products that bridge the gap between DeFi and traditional finance.
With its VARA license, Mantra plans to offer financial services to institutional clients and qualified investors in the UAE.
This article first appeared at Cointelegraph.com News
